Understand the treatment of special expenses in cost accounting. Learn about the treatment of research and development costs according to CAS 18.
Important precautions for Non-resident Indians selling property in India. Understand the rules and regulations to avoid legal complications and taxes.
Whether Income Tax Exemption is available in respect of Educational Loan taken for the purposes of higher education abroad? All salaried persons and pensioners should submit their Income Tax Final Statement (with respect to the A.Y 2022-203, Previous Year 2021-2022) before February 28, 2022. Income Tax Final Statement should be submitted before the relevant Drawing […]
Following are the important Final Accounts of Banking Companies as per Banking Regulation Act 1949 and its latest Amendments and Reserve Bank of India’s Circulars. 1. Balance Sheet 2. Profit and Loss Account Now, Banks need not follow Ind AS. The relevant position is as follows. On 1st April 2019 – Mandatory Basis — (as […]
Ind AS-38: Intangible Assets. (By incorporating Changes as per Companies (Indian Accounting Standards) Amendments Rules 2021). Each Accounting Standard offers wide variety of practical applications to the stakeholders in respect of full disclosure and transparency. Therefore, I hereby try to summarize various dimensions with regard to the Accounting Standard related with IndAS-38: Intangible Assets. (By incorporating […]
Learn about the simplified version of IND AS 24 & IAS 24 for related party disclosures. Get insights into the changes incorporated as per the Companies (Indian Accounting Standards) Amendments Rules 2021.
Each Accounting Standard offers wide variety of practical applications to the stakeholders in respect of full disclosure and transparency. Therefore, I hereby try to summarize various dimensions with regard to the Accounting Standard related with Ind As-23 : Borrowing Costs (By incorporating Changes as per Companies (Indian Accounting Standards) Amendments Rules 2021) . 1. The relevant Accounting Standards […]
Ind-AS-2 Accounting for Inventories incorporating Companies (Indian Accounting Standards) Amendment Rules 2020 Ind-AS-2. Accounting for Inventories incorporating Companies (Indian Accounting Standards) Amendment Rules 2020I hereby want to summarize the latest provisions with respect to Ind-AS 2 –Inventories. Following are the important and latest provisions. Companies (Indian Accounting Standards) Amendment Rules 2020. AS-2 Valuation of Inventories […]
Gain a comprehensive understanding of Indian Accounting Standard (IND AS) 33 and IAS 33 Earnings per Share. Learn about the practical applications and differences between these accounting standards.
There may be a time gap between the balance sheet date (reporting date) and the date on which the financial statements are approved. During this gap of time, some events shall take place. Such events are called events after reporting period. For Example, a company prepares its balance sheet on 31/3/2021, but it is approved […]
